Bandhan Financial to acquire Aegon Life Insurance

Bandhan Financial Holdings Ltd (BFHL), the promoter of publicly listed Bandhan Bank, is to buyout the entire stake held by Aegon India Holding B.V. and Bennett, Coleman & Company Ltd (BCCL) in Aegon Life Insurance Company. Netherlands-based Aegon has a 56% stake in the target company. Set up in 2008, Mumbai-based Aegon Life has around 250 employees and serves around 300,000 customers. Aegon Life's new business premium was INR 11.45 crore for the last fiscal.